Quick Breakdown
- MoneyGram launches USDC app in Colombia via Stellar and Crossmint, offering instant stablecoin transfers.
- Peso depreciation fuels adoption, with locals turning to stablecoins for stability and remittances.
- Bitcoin acceptance declines, with merchant numbers falling from 106 to 62 in under a year.
MoneyGram taps Stellar and crossmint for USDC transfers
MoneyGram is launching its digital payments app in Colombia, allowing locals to store and transfer U.S. dollar stablecoins as the Colombian peso continues to lose value. The service, powered by the Stellar network and supported by Crossmint’s self-custody infrastructure, enables users to hold USDC and send it across borders almost instantly.
Say hello to a new way to receive money 💸📲
Introducing the next-generation MoneyGram® app:
🔔 Instantly receive international transfers with real-time notifications
💲 Choose to convert funds into digital dollars for stability, or withdraw cash at a MoneyGram location
🔒… pic.twitter.com/E0CIn5QTup— MoneyGram (@MoneyGram) September 17, 2025
According to MoneyGram, Colombia was chosen as the “ideal launch market,” pointing out that Colombian families receive more than 22 times the amount of money they send abroad. The new service removes the need for recipients to visit physical MoneyGram locations to pick up cash.
Instead, funds can be stored directly in USDC through the app, offering locals access to a more stable currency as the peso has slipped nearly 12% against the dollar since early April, according to Google Finance data. Similarly, MoneyGram launched an online platform called MoneyGram Online (MGO) in Brazil in 2022, allowing Brazilian users to send money internationally via MoneyGram.
Converting USDC into pesos is still possible
While USDC can be saved or transferred digitally, Colombians will still have the option of visiting MoneyGram branches if they want to swap their stablecoins for pesos and withdraw cash. The company also hinted that users could soon earn incentives on deposits through integrated savings products.
The app is rolling out on both the Apple App Store and Google Play Store, though users must first join a waitlist for account approval.
Competition and wider digital payments landscape
MoneyGram is positioning its service as a direct rival to Western Union, boasting a network of 500,000 retail locations worldwide and claiming more than five billion “digital endpoints.”
Bitcoin merchant adoption in decline
Despite the rise of stablecoin-based services, Bitcoin adoption among merchants in Colombia is shrinking. Data from BTCMaps shows that only 62 merchants currently accept Bitcoin, down from 106 in September 2023. Among the businesses that closed their doors was MIND Crypto Caffe Medellín, once a popular hub in El Poblado, Medellín’s tourist district. Photos posted online in May 2024 showed the venue being dismantled.
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